Is Covington, TN 38019 a buyer’s or seller’s market?
Covington is a balanced market. With about 5.5 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 10% of U.S. ZIP codes, and #247 of 299 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Covington housing market right now
In the three months ending August 31, 2026, 4% of homes in Covington, TN 38019 sold above their list price, the typical home went under contract in 37 days and there were 5.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 29 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 21%, homes sold more slowly (31 days then) and the median sale price rose 28% to $285,876. Overall, Covington is less competitive than a year ago, which gives buyers more room.
Within Tipton County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county. On our competition score, Covington ranks #247 of 299 TN ZIP codes with enough sales (score 17 out of 100).
Nearby, Munford 38058 (17% sold over asking) and Burlison 38015 (17% sold over asking) are even more competitive.
Run the numbers for 38019
Nearby markets
Atoka 38004Buyer’s market $151 /sq ftBrighton 38011Seller’s market $160 /sq ftBurlison 38015Balanced $188 /sq ftDrummonds 38023Seller’s market $173 /sq ft Browse all markets →Towns like Covington nearby
Find towns like Covington in other states →Where Covington is
Loading map…
Questions about Covington real estate
Is Covington a buyer’s or seller’s market?
A balanced market: there were 5.5 months of supply in Covington, TN 38019 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Covington?
The typical home went under contract in 37 days in the latest three months.
Do homes in Covington sell over asking?
4% of homes sold above their original list price, and the typical sale closed at 93.7% of the list price.
What are property taxes in Covington?
About 0.50% of a home’s value a year in Tipton County, or roughly $2,000 on a $400,000 home.
What is the median home price in Covington?
The median sale price was $285,876 in the three months ending August 31, 2026, about $131 per square foot.
Local agents
See all agents in 38019 →No sponsored agents in 38019 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 38019
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology